Kathleen Kennedy Townsend Named to NewTower Trust Company's Board of Directors

BETHESDA, Md., March 18, 2014 /PRNewswire/ -- NewTower Trust Company announced today that the Honorable Kathleen Kennedy Townsend has joined its Board of Directors. Her appointment expands the number of NewTower independent board members to five.  NewTower is a  Maryland-based, non-depository trust company that provides fiduciary and trustee services to the $6.8 billion Multi-Employer Property Trust (MEPT).

MEPT is one of the largest open-end commingled real estate equity funds in the U.S. Founded in 1982, MEPT is owned by 320 multi-employer and public employee pension plans. Signatory to the UN Principles for Responsible Investment, MEPT is recognized as a pioneer in Responsible Property Investing (RPI) and has been consistently top-ranked in the U.S. by GRESB for its environmental performance.  MEPT is advised by Bentall Kennedy, one of North America's largest real estate investment advisors, and Landon Butler & Company, LP^® of Washington, D.C. which provides investor relations and marketing services.

"Kathleen is an exceptionally accomplished person who brings valuable, pertinent experience to our Board," said Daniel W. Toohey, Chairman of the Board at NewTower.  "In her role as Lieutenant Governor she championed economic development and sustainability, which have long been key priorities for NewTower and MEPT.  Furthermore, her direct experience working with and understanding the challenges of pension funds adds an important new perspective to our Board.  Her appointment strengthens our ability to successfully build and expand the MEPT strategy and meet the expectations of our investors."

"It is rewarding to be joining an organization with a track record of exceptional fiduciary responsibility, and an unwavering focus on investors, performance, and prudent growth," Ms. Townsend said. 

Ms. Townsend was the first woman elected Lieutenant Governor in the State of Maryland where she served from 1995 to 2003. She is a Managing Director at The Rock Creek Group, a leading global investment and advisory firm.  She also serves on the Board of Directors at the Pension Rights Center; at Lightbridge Corporation (Nasdaq: LTBR) and at CanAlaska Uranium, Ltd. (TSX-V: CVV).

Prior to her election as Lieutenant Governor, Ms. Townsend was Deputy Assistant Attorney General of the U.S. where she led the planning to put 100,000 police officers into communities.  Earlier Ms. Townsend founded the Robert F. Kennedy Human Rights Award, and served as the founder and director of the Maryland Student Service Alliance where she led the charge for Maryland to become the first – and only – state to make service a high school graduation requirement.

SOURCE NewTower Trust Company

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